Palm's third quarter earnings report for 2009 has dropped, and it's looking pretty rough for the old boys. The company posted a net loss of $95 million dollars in the quarter, and sold 482,000 units where it sold 833,000 in the same quarter last year. Palm's total earnings for the quarter fell 71 percent over last year, from $312 million to just $90.6 million. Palm stock fell a net 53 cents quarter over quarter, though it's made some recent significant gains. CEO Ed Colligan was quick to point out, however, that its much-touted and anxiously awaited Pre (with the new webOS) is on target for its release date in the "second quarter." The heat is officially on.